Video: Why Couldn't Potent Data Drive EURUSD Below 1.2500?
• Thursday's docket offered up data that reinforced the bearish view for Euro and bullish outlook for USD
• Yet, EURUSD was unable to break tight congestion - much less put pressure on 1.2200
• Though the data spoke to key fundamental themes, current pricing requires far greater motivation Want to develop a more in-depth knowledge on the market and strategies?
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The pieces were all falling into place. EURUSD found itself in tight technical confines, data that would tap key fundamental themes was crossing the wires and the prints fed the prevailing trend. Yet, despite these favorable circumstances for both volatility and a reengaged bear trend, neither breakout nor momentum would result. Theoretically, a prevailing trend should be easier to jump start and catalysts that cut close to the bone should offer capable leverage. Practically, the market prices in scenarios as they become more probable. EURUSD has already adjusted significantly to evidence of the ECB's appetite for stimulus and the Fed's move to normalize. Does that mean this pair won't be able to clear 1.2000? We discuss this and how fundamentals are interpreted through price in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.